The University of Minnesota unveiled today an initiative it hopes will counter a reputation for jealously guarding intellectual property that has hampered research partnerships with business.

The Minnesota Innovation Partnership will simplify the legalities behind industry-sponsored research, doing away with much haggling over rights and contracts. A rigid approach to guarding intellectual property, officials said, has stymied business investment in research at the U, Minnesota’s public research institution.

That comes at a time when federal funding for academic research is leveling off, and industry investment in research is rising nationwide. Recently, the Obama administration wrote to university officials urging them to cultivate research partnerships with businesses as a way to drive economic growth.

“What we’re proposing is a game-changing model that will bring the value of the university to benefit the people of Minnesota,” said President Eric Kaler after the university’s Board of Regents learned of the proposal at its monthly meeting.

The U drew $769 million in research money this past year, a dip from $823 million last year that primarily reflected the decline in federal stimulus funds. In the past decade, the U has seen bracing gains in overall research sponsorships, but the business and industry portion of those has stayed stagnant, accounting for roughly 4 percent of all sponsored research.

“We really have not done terribly well in terms of growing our research portfolio in partnership with business and industry,” said Tim Mulcahy, vice president for research.

That’s because the school has placed an excessive emphasis on intellectual property rights, prioritizing royalty income over the other advantages of partnering with business: gifts, opportunities for students, support from industry for the university’s legislative agenda and more.

“We’re so busy protecting ourselves we are losing a lot of important activity,” said Regent John Frobenius.

The Innovation Partnership, an initiative that officials said puts the U on the cutting edge of research teamwork with business, will change that. Under the program, companies will be able to pre-pay a set fee and receive a worldwide patent on innovations, with royalties to the U kicking in only in the case of major commercial success. Officials said the arrangement will also protect university researchers against the uncertainties of funding from companies, which could pull out before research is complete.

Mulcahy said he’s already gotten rave reviews from local business leaders, who offered input in fine-tuning the proposal. Still, enthusiastic regents urged Kaler to ensure word of the changes gets out.

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